DCDS – 09/2023
The VN-Index faced a decline of 5.7% in September following four consecutive months of growth. The initial days of the month showed promise, but a gradual downturn was observed, influenced by macroeconomic factors like US inflation and the State Bank of Vietnam’s ongoing government bond issuance. By the close of September, the VN-Index had demonstrated impressive year-to-date growth, surging by 14.6% since the beginning of the year. Notably, it outperformed regional counterparts such as Thailand’s SET (-11.8%), the Philippines’ PCOMP (-3.7%), and Indonesia’s JCI (+1.3%).
Simultaneously, the DCDS Fund experienced a monthly decrease of -4.1%. However, over the initial nine months of the year, the fund delivered a remarkable positive return of +26.2%. This performance surpassed the VN-Index’s growth of +14.6% during the same period. Stocks within the fund’s portfolio continued to exhibit strong growth in September, including notable performers like DGC (+8.8%), PVS (+8.6%), FRT (+4.8%), and DCM (+6.4%). Looking ahead, the fund will maintain a vigilant watch on domestic and international macroeconomic developments, enabling timely portfolio adjustments as needed.
